GOLF CLUB • KEW
Statement Of Cash Flows
Prudent financial management and a focus on
Cash provided by Operating Activities amounted
delivering our strategy is essential. Membership
to $1,398,825 for the eight month period. Capital
retention and member support of the Club
investment was a modest $88,961 having focused
continues to be important in the delivery of the
on only essential items during the period.
Club’s financial plan.
2014/15 subscriptions, based on a full 12 month
A budgeted Net Profit is planned for 2014/15, and
receipt, assisted to deliver the $1,013,045 cash inflow
cash flow generated will continue to pay down
this period. Surplus cash funds repaid drawn bank
debt. The Club is committed to retiring Member
borrowings.
Debentures at the conclusion of the next fiscal year.
THE YEAR AHEAD
Member based golf clubs continue to be challenged
within the golf industry, and members have been
challenged by recent uncertain economic and
political times. So while the financial position of the
Club is buoyant, and debt reduction is on track, the
Board remains vigilant to changing circumstances.
Peak Net Debt is forecast to be $533,000 in February
2015.
I would like to thank Peter Busch and Callum Terrill
and their team for the support provided throughout
the year; this has assisted not only me, but the
Board, and members’ interests generally.
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